LME Copper to Remain Range-Bound (2017-9-28)

[SMM Flash] In August, secondary copper raw material imports from Spain totaled 11,400 mt in physical content, accounting for 6.44%, up 20.10% YoY and down 4.00% MoM, with European supply maintaining a relatively high volume. Imports from Taiwan, China were 7,900 mt in physical content, accounting for 4.47%, up 12.20% YoY and down 7.99% MoM. Imports from the UK were 7,400 mt in physical content, accounting for 4.16%, down 7.83% YoY and down 30.47% MoM. Imports from Canada were 7,100 mt in physical content, accounting for 4.03%, up 5.49% YoY and down 26.73% MoM.

Zangezur Copper Molybdenum Combine (ZCMC) reported 2025 molybdenum concentrate output of 15,548 wet tonnes (13,389.68 dry tonnes), down 13.7% from 18,014 wet tonnes (15,507.08 dry tonnes) in 2024. Sales fell 15.5% to 15,614 wet tonnes. Meanwhile, dry ore treated rose 1.5% to 22.67 million tonnes, with ZCMC linking the lower molybdenum output to ore characteristics. The company produced no ferromolybdenum or roasted molybdenum concentrate in 2025, compared with 273 tonnes and 547 tonnes, respectively, in 2024. The concentrate figures represent physical product weight, not contained molybdenum.